Some VC Funds Have Miles To Go While Others Have Burned What's In The Tank

The slowdown and shake-out predicted to occur in the world of venture capital has come. But has it also already gone, too? Late in 2008 as the housing crisis came to a head, dire predictions suggested that the venture industry could shrink to half its former size, as weaker-performing firms were weeded out. A long, painful process of downsizing seemed to be taking place and firms struggled to reach their targets when raising new funds as limited partners pulled back in their capital allocations.

The industry has certainly retrenched, but there are also signs of new life in the venture sector. While some firms set fundraising goals they couldn't reach, others have found their LPs to be even more generous than anticipated, buoyed by a warming IPO market that's been especially good to VCs who invest in technology as well as life sciences. It's a case of haves vs